Uruguai: Cyber Fraud Hits Latin American Banks

By Geraldine Cook
January 01, 2012

Banks in Brazil, Mexico and Argentina are the hardest hit in Latin America by fraud in online commerce and theft of confidential data, a practice known as phishing. The
total bank losses in the region top $93 billion a year, found an investigation conducted
by Proyecto Amparo, a Montevideo-based group that aims to strengthen regional capacity
for prevention and response to cyber security incidents in Latin America and the
Caribbean.

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